7 Tips for Keeping Your Money Safe Online
Technology has transformed how we exist and act every day. People’s social and professional lives revolve heavily around technology, and in particular, the internet. More people than ever now shop online, and this trend looks set to continue.
Mobile technology and our reliance on handheld devices have pushed the boundaries even further. Convenience is everything, as people expect there to be an app or mobile solution to solve any and all problems.
Mobile banking is now standard practice in society. Many people even use their phones to pay for things. The demand for online banking services has brought about digital banks who operate solely via the internet and mobile apps. They offer comprehensive services that specifically target mobile-savvy customers.
With the increased emphasis on internet use across the majority of industries, a lot of purchases and transactions take place online. It’s vital that you take the necessary steps to keep your money safe at all times.
Here are seven great tips for keeping your money safe online.
1.Update your phone and computer regularly
Hackers and cybercriminals are constantly pushing to find ways to access bank information through internet-enabled devices. Phone and computer manufacturers do their best to patch any breaches of their systems with regular updates. Keeping your devices updated is the first line of defense for keeping your data safe.
2.Password security
Ensure that you have strong unique passwords that contain a mixture of upper case, lower case, numbers, and symbols. Don’t share passwords with anyone. For maximum security, change your passwords every 3 to 4 months.
Don’t use the same passwords for social media and banking or finance based accounts.
3.Multi-factor authentication
Where possible, enable multi-factor authentication. This prompts you to provide additional log-in information when you are trying to gain access to an account. For example, a phone app might request a fingerprint scan as well as your usual username and password.
This is not a necessity for most apps, but it is highly recommended for any money based accounts or applications.
4.Use trustworthy money websites
Be wary of suspicious-looking websites that request access to your finances. Never purchase on or share your bank details with a website that you don’t trust.
When using money lending websites, ensure that you use a reputable company for payday loans or short term borrowings.
5.Take precaution using public wi-fi
Public wi-fi is a notorious target for hackers. Avoid logging onto public wi-fi unless it is absolutely necessary. Never access online banking or financial information while connected to a public network.
6.Install anti-virus
Quality anti-virus software can do a great job of protecting your device from malware and cybertheft. Infecting your device with a virus is a common way for hackers to gain access to sensitive information, so preventative measures are necessary for maximum safety.
7.Phishing e-mails
Phishing e-mails are communication scams where the hacker pretends to be an authoritative company in an attempt to gain your personal information. Many times phishing e-mails take the form of a bank or financial institution, and they can be very convincing.
Learn how to detect and avoid phishing scams to keep your money safe from malicious e-mail hackers.
*This is a collaborative post.
